5 Must-Reads for This Week: Fast Thoughts on Payment Security

5 Must-Reads for This Week: Fast Thoughts on Payment Security

5 Must-Reads for This Week: Fast Thoughts on Payment Security

This week we’re trying to keep up with the need for speed. Faster payments are coming – in the form of same-day ACH and real-time payments platforms like CO-OP’s RealPay. Consumers are ready:
Are you?

As people look to make payments on the fly via services like PayPal and MasterPass, are you there? Are these payments safe?

If the future of mobile security is human-shaped, who will bring the biometrics?

It’s a fast, fast world out there. Drive safely.

What had us hooked in this week’s news:

Same-Day ACH is Coming. Are You Ready?
Deposit Accounts
NACHA, the Electronic Payments Association, reports that 95 percent of financial institutions plan to offer same-day ACH origination by the end of the year. As same-day ACH becomes a reality over the coming months, are financial institutions ready for this change? How will widespread access to same-day ACH change consumer expectations about real-time payments?

Will Faster Payments Mean Faster Fraud?
Bank Info Security
Not so fast: If real-time payments become a reality, will increased speed bring real-time consequences? While a Fed expert acknowledges that faster payments are a needed competitive advantage, fraud prevention and detection will have to keep pace.

Rivals Visa and PayPal set out on ‘new path’
Visa and PayPal are taking a new collaborative approach, which they say will benefit issuers, acquirers, merchants and consumers. Look for PayPal to offer new ways for consumers to use their Visa cards on PayPal in exchange for greater “fee certainty” from Visa.

Will Samsung’s New Galaxy Note 7 Feature Iris Scanning?
Don’t blink or you’ll miss it. In keeping with the results of Visa’s recent survey of 14,000 European consumers – which revealed that 68 percent want biometric authentication – rumors are flying about the possibility of iris scanners being included on Samsung’s upcoming Galaxy Note 7 phone/tablet.

Mastercard Makes a Major Mobile Announcement. Now What About Security?
The mobile payment market just got a lot more interesting with the announcement of Mastercard taking its MasterPass digital payment platform mobile. But, as mobile payment options continue to proliferate, who’s making sure that mobile payments are secure – and how?